VanEck Digital Asset Director: US regulators have double standards for Bitcoin

Gabor Gurbacs, a director and digital asset expert at VanEck, said that Bitcoin (BTC) exchange-traded funds (ETFs) face unfair suppression from US regulators.

In the latest issue of “ Keizer Report “ in, Keizer Report to Moderator Max Keiser said : “ Bitcoin digital assets and there has been a double standard, I think this is wrong. “

A large number of Bitcoin ETFs are rejected

In its simplest form, the Bitcoin ETF is a financial product that is formally traded on the mainstream stock market, and the stock represents the exposure to Bitcoin’s price. Depending on the product, the Bitcoin ETF may support cash or Bitcoin. This approach essentially allows people to invest and trade in Bitcoin through traditional market methods and brokers.

In the past two or three years, the US Securities and Exchange Commission ( SEC ) has rejected a large number of Bitcoin ETFs . VanEck collaborated with SolidX to submit one of the most famous Bitcoin ETFs , and faced excessive delays and difficulties before abandoning its proposal.

Regulators said that in order to obtain approval from the Bitcoin ETF , they need to prove that Bitcoin exhibited real price behavior, or “ true price discovery “ , rather than market manipulation. Comparing this situation with other available traditional market ETFs , Keiser said, “ The argument about price discovery is untenable. “ Gurbacs agrees.

Gurbacs defends Bitcoin price performance

Gurbacs pointed out that Bitcoin can effectively find prices, even better than certain commodities on the market, and he disclosed evidence of these data to the regulator. Gurbacs said that VanEck and its subsidiary MV Index Solutions have also developed regulated indexes to attract regulators.

Gurbacs said of regulators: “ I think they have a better understanding of this area. “ He added: “ I don’t think pricing and price discovery are a big problem. In fact, we have solved this problem. “

“ Many of our subsidiaries’ clients have approved registered capital in Switzerland, Canada, Japan and elsewhere, so I think it’s important to know that global regulators have recognized that we have solved this problem while the United States Sooner or later, regulators will recognize this. “

However, the regulator has not changed its attention. In 2020 Nian 2 months, alternative investment firm Wilshire Phoenix last Bitcoin ETF was rejected.

Cointelegraph contacted Vaneck , hope Gurbacs comment further, but as of press time have not received any return to the complex . If you receive a reply, this article will be updated accordingly.